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Credit Vocab
Quiz
•
Social Studies
•
10th Grade
•
Medium
Sami Krocker
Used 13+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Adjustable-Rate Mortgage
A home loan with an interest rate that can vary
A loan with a fixed interest rate
A loan with a variable repayment schedule
A loan with a fixed repayment schedule
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Annual Percentage Rate (APR)
Home loan with an interest rate that stays the same
The cost you pay each year to borrow money, in a percentage
A home loan with an interest rate that can vary
The maximum amount of credit that a person can borrow
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit Card
The maximum amount of credit that a person can borrow
A numerical rating calculated on someone’s ability to pay back the money they borrowed
A card that allows a person to pay for things on credit
Home loan
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit Limit
Unfair and sneaky tactics some use to trick people into taking out loans
The amount of money owed on an account
The smallest amount you can pay back each month on a loan or credit card
The maximum amount of credit that a person can borrow
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit Score
A numerical rating calculated on someone’s ability to pay back the money they borrowed
A card that allows a person to pay for things on credit
A sum of money that is borrowed
The amount of money you originally agreed to pay back on a loan
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Debt
A sum of money that is borrowed
Money that is owed
The amount of money you originally agreed to pay back on a loan
The maximum amount of credit that a person can borrow
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Fixed-Rate Mortgage
A home loan with an interest rate that can vary
The amount of money owed on an account
Home loan with an interest rate that stays the same
The price one pays to borrow money
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